Economic Barriers to Growth and Development
Barriers to Economic Growth and/or Economic Development
AO2
Syllabus requirement
Factors such as rising income inequality, lack of infrastructure, low human capital, dependence on primary production, limited market access, capital flight, and poor geography.
Assessment objectives
AO2 Application and Analysis
Summary
This topic examines the economic, political and social barriers that prevent less developed countries from achieving sustained economic growth and development. It explains how context-specific factors — such as poor infrastructure, low human capital, dependence on primary commodities, weak institutions, corruption, capital flight and adverse geography — interact to trap countries in poverty and reduce opportunities for investment and income growth.